Kraken Co-Founder Supports Elon Musk; Declares Need for Him

Elon Musk Dogecoin
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Elon Musk, the CEO of companies like X, Tesla, and SpaceX, known for being a major supporter of Dogecoin, is in the spotlight once more due to controversial statements made during an interview at the DealBook Summit hosted by The New York Times.

Jesse Powell, the co-founder and former CEO of the cryptocurrency exchange Kraken, expressed his thoughts on Musk’s management of the social media platform during the interview.

Elon Musk Acquires Twitter in Billion-Dollar Deal, Advocates for Free Speech

In a billion-dollar acquisition, Elon Musk, the CEO of X (Twitter), formerly a publicly traded company in the US, claimed the move was aimed at “rescuing freedom of speech.” Speaking at the DealBook Summit, Musk asserted that Twitter was previously “subjugated” to the US government, leading to what he perceived as a violation of the US Constitution and its First Amendment.

Musk argued that the extent of government control over Twitter was a severe infringement on free speech rights. Following the acquisition, he emphasized the platform’s newfound independence from government influence, stating, “The degree to which all Twitter was basically a sock puppet of the government was ridiculous. It seems to be that there is a severe violation of the first amendment, in terms of how much control the government had over all Twitter, and it no longer is.”

Jesse Powell, the Co-founder of Kraken, expressed support for Musk’s stance. Powell, now the CEO of the social media platform, has been implementing policy changes to safeguard free speech. Through his X handle, Powell remarked, “Twitter makes an extremely strong case against ‘billionaires shouldn’t exist’. In fact, it proves that we need to maintain at least one person worth $44 billion.”

Members of the crypto community echoed Powell’s support for Musk, acknowledging Musk’s role in protecting freedom of speech. However, some highlighted the importance of preventing individuals and entities from concentrating excessive power.

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DOGE’s price trends to the upside on the daily chart. Source: DOGEUSDT on Tradingview

Elon Musk’s Twitter Feud Causes Disney+ Subscription Cancellations

In a recent interview, Elon Musk addressed the advertising challenges confronting X (Twitter), as major companies like Apple, IBM, and Disney suspended marketing campaigns due to the platform’s perceived leniency toward “pro-Nazi” content. Musk’s direct and explicit response to Disney CEO Bob Iger, stating, “Go F yourself. Go. F. Yourself. Is that clear?” has ignited a wave of support from Musk’s followers.

In response to Musk’s comments, reports indicate a surge in cancellations of Disney+ subscriptions, with users protesting perceived attempts to pressure Musk over X advertising. The explicit feud between Musk and Iger underscores the significant impact of social media conflicts on user engagement and subscription services, raising questions about the broader implications of corporate clashes in the digital era.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

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